Lear Corp., a Southfield-based global automotive supplier, has renamed its Electrical business segment, “E-Systems.” The company expects E-Systems to grow at an annual rate of 5 percentage points above market growth over the next 5 to 7 years.
Company officials say the name change reflects the increasing complexity of automotive electrical systems and Lear’s expanded electrical architecture and vehicle connectivity capabilities.
“With 21 first-to-market innovations in the last four years and over 600 software engineers globally, we are extremely well positioned to capitalize on the mega-trend of vehicle connectivity,” says Matt Simoncini, president and CEO of Lear Corp.
The company’s E-Systems product portfolio consists of wire harnesses, terminals and connectors, electronic modules, power converters and inverters, battery chargers, 48-volt systems, wireless capabilities, software, cybersecurity, lighting modules, and audio components.
Lear’s products, which are designed, engineered, and manufactured by 140,000 employees in 36 countries, can be found on more than 350 vehicle nameplates.